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1013 N Jasmine Avenue Ontario, CA 91762

3 Beds 2 Baths 1,450 sqft Built 1956

$510,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $351.72
  • 4 Days on Market
  • MLS # : DW20233485
  • Updated Date : 11/06/2020 at 17:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Elite Homes Realty

Listing Agent's Description

Honey Stop the Car!!!!! Gorgeous and Completely Turn Key Home in a great area of Ontario. 3 Bedrooms 2 Baths with a formal dining room (that can also be used as a Family room) with dual fireplace. Central A/C, New cabinets throughout kitchen and much more!! 2 car garage with direct access into home. Beautiful spacious backyard perfect for entertaining. Close to 10 Fwy, Shopping Centers including Costco! Montclair Mall and Schools.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112126

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Elderberry Elementary School Primary Regular 837 30 6
Elderberry Elementary School Middle Regular 837 30 6
Montclair High School High Regular 3,034 117 6

Elderberry Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Elderberry Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,882
Property Tax -$469
Property Insurance -$62
Property Management Fees -$139
CASH FLOW
-$202

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$510,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$20,076

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,350

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,353

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3504$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 1013 N Jasmine Avenue Ontario, CA 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.62
    •  
  • 9558 Marion Montclair, CA 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1957
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.70
    •  
  • 1347 Deodar Ontario, CA 2
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1956
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 10225 Poulsen Avenue Montclair, CA 3
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1960
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.73
    •  
  • 10026 Marion Avenue Montclair, CA 5
    • 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 1961
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.57
    •  
PROPERTY LISTING DETAILS
Terry Avendano
Elite Homes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20233485
Last Updated: 11/06/2020
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